China’s birthrate at its lowest since 1949, population crosses 1.4 bn

Men chat at a restaurant in Beijing’s central business area China on Jan. 17 2020

Eminent economist and former union minister Y K Alagh said China is a middle income country and at its level of per capita income 6 per cent plus is high growth. -China trade deal will spark a recovery in the global economy.

Analysts polled by Reuters forecast China's economy to have grown 6.0% in the October to December period of 2019.

China's demographic issues could pose serious issues for the world's second-largest economy when the current working-age population reaches retirement.

Facing growing risks and challenges at home and overseas, the overall performance of the national economy has been stable, the quality of development has been improving with major targets being met, laying a solid foundation for completing the building of a moderately prosperous society in all respects, Ning Jizhe, Director of the NBS said at a press conference.

Exports for the year totaled $2.498 trillion, up 0.5% - much slower growth than in 2018, largely due to a drop in shipments to the U.S. "This, together with the "phase one" deal, surely reduces the downside risks to the economy for 2020, offering comfort to policy-makers to stick with a measured easing approach". "In fact, to push for negotiation in the next stage, the U.S. will keep existing tariffs on imports from China unless the two countries manage to reach a phase two deal", said Alicia Garcia Herrero, chief Asia Pacific economist at Natixis.

Policy sources have told Reuters that Beijing plans to set a lower economic growth target of around 6 per cent this year from last year's 6-6.5 per cent, relying on increased infrastructure spending to ward off a sharper slowdown.

The BBC reported that China's birth rate has become now lower than the birthrate of the United States which, according to recent data available, stood at 12 per thousand people in the year 2017.

Property investment growth hit a two-year low in December even as it grew at a solid 9.9pc pace in 2019.

The growth rate was higher than that in the first 11 months of 2019, the data said.

Industrial output grew 6.9pc from a year earlier, the strongest pace in nine months, while retail sales rose 8.0pc.

China remains the world's most populous nation with 1.4 billion, and authorities are also grappling with how best to provide health care and pension payouts as more people enter their golden years.



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